Silent Service Method

I think this is a long enough trend move that you could wait for a 10+ pip break of 86 at this point.....A handful of pips won't matter either way, and it's more conservative......

Update on yesterday's ABT chart.

OK great. Looks like a really solid setup but was asking more to confirm my understanding. Promised myself I will stay out of any trades till I have read the entire thread so I am entering for the right reasons.

Thanks again for taking the time CW.

Chris occasionally puts up some post or another about the positive effects trading has had on his life, which has been a big source of inspiration for me. I find it strange that trading is teaching me more about myself than it is about markets, price, fundamentals or technical's.

After suffering a few defeats, perpetrated by my own psychological profile, rather than focusing on "becoming a better trader", I decided to face the defects in my psyche that the market had exposed, in real life.

This has been going on since about December, I've taken on more responsibilities at work, and also taken on other other ventures which I would've previously shied away from, because I feel that in my 34 years, I've never really "grown-up". Now, by grown up I don't mean taking myself too seriously, or always nattering on about responsibility, but simply holding myself accountable, and living with the results and trying to remain as objective as possible.

I never gave adulthood much credibility. Grown-up's never have much fun.
I've avoided it this long because it always seemed to be defined externally. Somebody else always determined weather or not I was mature, and I've never given to much of a f__k about what everyone else thinks of me.

Trading is different though.

It's just me and the charts. My losses aren't failures, and my wins aren't successes, those can only be defined by how well or how poorly I stick to my plan.

So what's all the BS about?

It's about one trade, one that I've finally come to terms with. The Kiwi short Chris referred to earlier. I'm short from about the same level as he is, but in my infinite genius, I've continued adding shorts along the way. Not a bad idea if you set stops on each position and let the market decide, but I set my stops and then moved them. I currently have 6 short positions and 5 of them are underwater.

What does all this "grown-up" sh_t have do do with my trade?

Well, basically, I entered technically, as Chris has taught us all to do, but ended up managing the positions emotionally, and as much as I've wanted out, the only out I have right now is also emotional.....close 'em all....f__k it .....I'm done.

Thankfully we have a possible downward trendline, and have had a modest reaction to it, and though I don't expect it to fall off a cliff and make me rich, it does give me a technical reason to exit, and I am placing a single stop for all positions 15 pips above it.

If my stop gets hit it will cost me about 27% of my equity.

But emotional management is what got me here and I sure as hell am not going to exit by the same method.

So all the "grown-up" sh_t, is just about me having to own up to this trade, take it like a man, and don't be f__king stupid about it anymore than I already have.

It's been an interesting couple of months....more so in life than in trading, and I plan to keep doing what I've been doing, which is addressing my psychological weaknesses in real life rather than try to convince price that I actually have a good grip on myself.

I never thought I would love an experience that stripped me of all my bulls_it and pretentions, but trading is quite possibly the most genuine thing I've ever done, and it's made me realize just how easy it is to slide through life without ever having to face yourself.

Thanks for that update Chris!

L

Hi Chris, did you see my post about NZDUSD? You mentioned you had a trade open on it, is that a long? Looks like a big bull flag forming on the weekly. That's a massive pole!

Leaving the rest of the post alone, (mainly because I know you understand what has happened.) this part I quoted is absolutely brilliant.

I feel that the money I make trading is the bonus. The actual pay is the insights I have on life and myself. It's worth a shitload more than any profit on a trade could ever be.

GREAT POST.

Technically, I think it could be a great trade but it's a little too close to the election for my liking - the possibility of a hung parliament is not going to do anything for the pound.

Just my thoughts

Chris

PS, thanks for the vouch Chris - I may be able to return the sentiment 1 day!!

QUOTE: One thing I have learned is that someday I would like to be another Jacko, I would like to be in the place to offer insight to the generation after me. I feel that you should always give what you receive. This is what makes FF a good site.

clockwork (circa 2007)

I think you've exceeded him, maybe not in lots per trade but in big heartedness and ability to explain the unexplainable...

I know what you are saying, but my trade is more anti-Euro, than pro-Pound.....

By the way....you are from Yorkshire.....a Blades Supporter I assume? They are the only side from the area.

Although, now that I think of it, some amateur side called "Leeds United" came over and got spanked by Columbus here in the States a few years back.

Huh. Thanks for posting that.

Funny thing is, this thread just kind of fell together out of boredom more than anything else. I was slow at work, and figured I would do something to entertain myself that might actually help someone else.

You never know.

LOL, that's a thanks as in... gee great, thanks! I just came across one of your old threads you started.

Well you've certainly helped me so thanks a lot for that. I won't hold it against you that you're not trading 150 lots a position yet

I used to like you

Me watch the Blades? I'd rather poke my eyes out with teaspoons!

Chris

In these times of uncertainty and malheuresment involving some of the biggest economies of the world wouldn't it be encouraging to have evidence that at least some joint ventures between major powers of the western world can lead to something worthwhile?

ha ha ha

Motorhead - it's not a band. It's a religion!

Lemmy is the man.

I am sitting here watching one group of idiots ask another group of idiots idiotic questions.

Or, our Congress grilling Goldman Sachs traders and executives. These guys at Goldman are the "best and brightest?" Shit, how am I not a billionaire yet???

Portugal has just been downgraded by Moody's, who in turn isn't worth a shit. But it does effect things for some reason.

Edit: It was S&P that downgraded, which is equally as shit.

That's a profound insight, the judges are not worthy of judging... Who's casting the first stone?